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NBC Joins Portal Pandemonium,
Taking Stake in CNET's Snap!

By

Kyle Pope and

Kara Swisher Staff Reporters of The Wall Street Journal

Updated June 10, 1998 12:01 a.m. ET

Seeking a toehold in the battle to dominate the Web, NBC said it is buying a stake in the on-line news company CNET Inc. and intends to take control of its Snap! directory service. The TV giant, a unit of General Electric Co., said it plans to throw its massive promotional muscle behind Snap in a bid to compete with such better-known Web sites as Yahoo!

The $26.2 million investment, while relatively small for the media giant, is a big tactical move in the on-line world, because it marks the first time a broadcast network...